Daimler Boosts Investment in China

FRANKFURT—Daimler AG said it would invest another €640 million, or about $870 million, in its Chinese partners to tighten the German company's grip on operations in the world's biggest auto market.

Daimler said Friday that it had agreed to take a direct 12% stake in its manufacturing partner and take control of its sales joint-venture in China, where Daimler has lost market share to German rivals BMW AG and Volkswagen AG's Audi.